WICHITA, Kan., April 29, 2026 /PRNewswire/ — Fast-casual restaurant concept, Freddy’s Frozen Custard & Steakburgers®, announced today the return of the Dr Pepper Frost. The limited-time offer will be available May 6 through July 7 at participating Freddy’s locations nationwide via drive-thru, in-restaurant dining, and pickup or delivery through the Freddy’s mobile app and at https://freddys.com.

Freddy’s Dr Pepper Frost is made with vanilla frozen custard blended with Dr Pepper and its 23 unique flavors, topped with whipped cream to make a cool and creamy treat.

“Freddy’s Frosts feature a lighter, refreshing taste made with our signature freshly churned vanilla frozen custard,” said Rick Petralia, Sr. Director of Menu Strategy & Innovation. “We first offered the Dr Pepper Frost last summer and it became an instant hit. Combining our rich and creamy frozen custard with the one-of-a-kind taste of Dr Pepper’s iconic 23 flavors creates a delicious and cool treat that’s especially enjoyable as the weather starts to warm up.”

In addition to the return of the Dr Pepper Frost, Freddy’s Steakburger Taco will remain on the menu through July 7, 2026, due to its popularity and an overwhelming amount of positive guest feedback requesting its extension.

“We first introduced the Steakburger Taco in January this year as a limited-time offer, and due to popular demand, it will remain on the menu through July 7. We feel grateful for the amazing responses we’ve received from guests who are calling it their new favorite menu item,” said Petralia. “Our Steakburger Taco is a craveable, perfectly snack-sized option that features Freddy’s signature steakburger patty, melted American cheese, lettuce, and Jalapeño Fry Sauce all wrapped in a grilled tortilla.”

About Freddy’s

Freddy’s Frozen Custard & Steakburgers® is a leading fast-casual franchise concept with more than 580 locations across 36 states nationwide. Founded in Wichita, Kansas, in 2002, the brand offers a unique combination of cooked-to-order steakburgers, all-beef hot dogs, shoestring fries and other savory items along with freshly churned frozen custard treats. Known for operating the Freddy’s Way, Guests experience genuine hospitality and food prepared fresh with premium ingredients. For more on Freddy’s, visit the Newsroom and follow us on Facebook and Instagram. For more information about development opportunities, visit https://freddysfranchising.com.

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SOURCE Freddy’s Frozen Custard & Steakburgers

Grew monthly recurring revenue 12% on an as-reported basis and 10% on a normalized and constant currency basis year over year Delivered largest first-quarter annualized gross bookings in company’s history, leading to a record backlog  Increased stabilized assets’ revenues 9% on an as-reported basis and 6% on a constant currency basis year over year, and continued to generate attractive 26% cash-on-cash returnsRaising full-year financial outlook across key metrics

REDWOOD CITY, Calif., April 29, 2026 /PRNewswire/ — Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today reported results for the quarter ended March 31, 2026.

“Our results reflect continued strength across the business. We delivered double-digit recurring revenue growth whilst improving our margins as we capitalise on robust customer demand for our AI, cloud and networking solutions,” said Adaire Fox-Martin, CEO and President, Equinix. “We are raising our 2026 financial outlook based on the underlying strength of our Q1 performance and disciplined execution by our teams. The essential infrastructure we provide is enabling companies to accelerate innovation and enhancing our market position.”

First-Quarter 2026 Results Summary

Revenues$2.444 billion, a 10% increase over the same quarter of the previous year on an as-reported basis, or an 8% increase on a normalized and constant currency basisOperating Income$577 million, a 26% increase over the same quarter of the previous year, primarily from strong underlying operating performanceNet Income Attributable to Common Stockholders and Net Income per Share Attributable to Common Stockholders$415 million, a 21% increase over the same quarter of the previous year, primarily from higher operating income$4.20 per share, a 20% increase over the same quarter of the previous yearAdjusted EBITDA$1.245 billion, a record adjusted EBITDA margin of 51%, a 17% increase over the same quarter of the previous year on an as-reported basis, or a 13% increase on a normalized and constant currency basisAFFO and AFFO per Share$1.065 billion, a 12% increase over the same quarter of the previous year on an as-reported basis, or an 11% increase on a normalized and constant currency basis driven by strong operating performance$10.79 per share, a 12% increase over the same quarter of the previous year on an as-reported basis, or a 10% increase on a normalized and constant currency basis

Q1 results do not include the xScale® Hampton lease transaction.  Adjusting for the timing of that deal, Q1 results were above the midpoint of the company’s Q1 guidance ranges.

Equinix uses certain non-GAAP financial measures, which are described further below and reconciled to the most comparable GAAP financial measures after the presentation of our GAAP financial statements.

All per-share results are presented on a fully diluted basis.

Equinix does not provide forward-looking guidance for certain financial data, such as depreciation, amortization, accretion, stock-based compensation and other components of net income or loss from operations, and as a result, is not able to provide a reconciliation of GAAP to non-GAAP financial measures for forward-looking data without unreasonable effort. The impact of such adjustments could be significant. Equinix intends to calculate the various non-GAAP financial measures in future periods consistent with how they were calculated for the periods presented within this press release.

For the second quarter of 2026, the company expects revenues to range between $2.571 and $2.611 billion, an increase of 6% at the midpoint over the previous quarter, on both an as-reported and a normalized and constant currency basis. This guidance includes a $6 million foreign currency benefit when compared to the average FX rates in Q1 2026. Adjusted EBITDA is expected to range between $1.349 and $1.389 billion. This guidance includes a $4 million foreign currency benefit when compared to the average FX rates in Q1 2026. Recurring capital expenditures are expected to range between $46 and $66 million.

For the full year of 2026, total revenues are expected to range between $10.144 and $10.244 billion, an increase of approximately 10 – 11% over the previous year on both an as-reported and a normalized and constant currency basis. This guidance includes a $21 million raise from better-than-expected Q1 operating performance. It also includes a minimal foreign currency benefit when compared to prior guidance. Adjusted EBITDA is expected to range between $5.165 and $5.245 billion, reflecting an adjusted EBITDA margin of 51%, an approximate +2% expansion over the previous year. This guidance includes a $24 million raise from better-than-expected Q1 operating performance. It also includes a minimal foreign currency benefit when compared to prior guidance. AFFO is expected to range between $4.198 and $4.278 billion, an increase of 12 – 14% over the previous year on an as-reported basis, or 10 – 12% on a normalized and constant currency basis. This guidance includes a $40 million raise from better-than-expected Q1 operating performance. This guidance also includes a minimal foreign currency impact when compared to prior guidance rates. AFFO per share is expected to range between $42.31 and $43.11, an increase of 10 – 12% over the previous year on an as-reported basis, or 9 – 11% on a normalized and constant currency basis. Total capital expenditures are expected to be approximately $4.100 billion. Non-recurring capital expenditures, excluding on-balance sheet xScale-related spend, are expected to be approximately $3.800 billion. Recurring capital expenditures are expected to range between $280 and $300 million.

The U.S. dollar exchange rates used for 2026 guidance, taking into consideration the impact of our current foreign currency hedges, have been updated to $1.14 to the Euro, $1.31 to the British Pound, S$1.27 to the U.S. Dollar, ¥159 to the U.S. Dollar, A$1.40 to the U.S. Dollar, R$4.97 to the U.S. Dollar, HK$7.83 to the U.S. Dollar and C$1.37 to the U.S. Dollar. The Q1 2026 global revenue breakdown by currency for the Euro, British Pound, Singapore Dollar, Japanese Yen, Australian Dollar, Brazilian Real, Hong Kong Dollar, and Canadian Dollar is 20%, 9%, 9%, 5%, 3%, 3%, 2% and 2%, respectively.

Business Highlights

Delivered $378 million of annualized gross bookings and record annualized presales of approximately $140 million.Approximately 60% of the company’s largest deals were AI-related.Introduced Equinix Fabric Intelligence™, an industry-leading solution that embeds AI directly into the network to interpret telemetry in real time and autonomously take action to optimize performance and workflows.Launched the Distributed AI Hub, a neutral, low-latency on-ramp to AI model companies, GPU clouds, data platforms and security services that enable companies to build their own AI stacks from best-of-breed providers.Announced definitive agreement with Canada Pension Plan Investment Board to acquire atNorth, a deal that will further enhance the company’s position in the Nordics and is expected to be immediately accretive to AFFO per share upon close.Strengthened position across the AI inferencing ecosystem, with eight of the top 10 AI model providers and four of the top five neoclouds actively expanding with Equinix to enable mission-critical, latency-sensitive elements of their architectures.Published 11th annual sustainability report, detailing the significant investments Equinix is making to expand critical energy infrastructure without burdening residential ratepayers while also achieving new levels of energy efficiency and environmental stewardship across the company’s operations.

Q1 2026 Results Conference Call and Replay Information

Equinix will discuss its quarterly results for the period ended March 31, 2026, along with its future outlook, in its quarterly conference call on Wednesday, April 29, 2026, at 5:30 p.m. ET (2:30 p.m. PT). A simultaneous live webcast of the call will be available on the company’s Investor Relations website at www.equinix.com/investors. To hear the conference call live, please dial 1-517-308-9482 (domestic and international) and reference the passcode EQIX.

A replay of the call will be available one hour after the call through Tuesday, June 30, 2026, by dialing 1-800-308-6785 and referencing the passcode 2026. In addition, the webcast will be available at www.equinix.com/investors (no password required).

Investor Presentation and Supplemental Financial Information

Equinix has made available on its website a presentation designed to accompany the discussion of Equinix’s results and future outlook, along with certain supplemental financial information and other data. Interested parties may access this information through the Equinix Investor Relations website at www.equinix.com/investors.

Additional Resources

Equinix Investor Relations Resources

About Equinix

Equinix, Inc. (Nasdaq: EQIX) shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet. Equinix connects economies, countries, organizations and communities, delivering seamless digital experiences and cutting-edge AI—quickly, efficiently and everywhere.

Non-GAAP Financial Measures

Equinix provides all information required in accordance with generally accepted accounting principles (“GAAP”), but it believes that evaluating its ongoing results of operations may be difficult if limited to reviewing only GAAP financial measures. Accordingly, Equinix also uses non-GAAP financial measures to evaluate its operations.

Non-GAAP financial measures are not a substitute for financial information prepared in accordance with GAAP. Non-GAAP financial measures should not be considered in isolation, but should be considered together with the most directly comparable GAAP financial measures. As such, Equinix provides a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

Investors should note that the non-GAAP financial measures used by Equinix may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as those of other companies. Investors should therefore exercise caution when comparing non-GAAP financial measures used by Equinix to similarly titled non-GAAP financial measures of other companies.

Equinix’s primary non-GAAP financial measures include Adjusted EBITDA and Adjusted Funds from Operations (“AFFO”) as described below. Equinix presents these measures to provide investors with additional tools to evaluate its results in a manner that focuses on what management believes to be its core, ongoing business operations. These measures exclude items which Equinix believes are generally not relevant to assessing its long-term performance. Both measures eliminate the impacts of depreciation and amortization, which are derived from historical costs and which Equinix believes are not indicative of current or future expenditures, and other items for which the frequency and amount of charges can vary based on the timing and significance of individual transactions. Equinix believes that presenting these non-GAAP financial measures provides consistency and comparability with past reports and that if it did not provide such non-GAAP financial information, investors would not have all the necessary data to analyze the company effectively.

Adjusted EBITDA is used by management to evaluate the operating strength and performance of its core, ongoing business, without regard to its capital or tax structures. It also aids in assessing the performance of, making operating decisions for, and allocating resources to its operating segments. In addition to the uses described above, Equinix believes this measure provides investors with a better understanding of the operating performance of the business and its ability to perform in subsequent periods.

Equinix defines adjusted EBITDA as net income excluding:

income tax expenseinterest incomeinterest expenseother income or expensegain or loss on debt extinguishmentdepreciation, amortization and accretion expensestock-based compensation expenserestructuring and other exit charges, which primarily include employee severance, facility closure costs, lease or other contract termination costs and advisory fees related to the realignment of our management structure, operations or products and other exit activitiesimpairment chargestransaction costsgain or loss on asset sales

AFFO is derived from Funds from Operations (“FFO”) calculated in accordance with the standards established by the National Association of Real Estate Investment Trusts. Both FFO and AFFO are non-GAAP measures commonly used in the REIT industry. Although these measures may not be directly comparable to similar measures used by other companies, Equinix believes that the presentation of these measures provides investors with an additional tool for comparing its performance with the performance of other companies in the REIT industry. Additionally, AFFO is a performance measure used in certain of the company’s employee incentive programs, and Equinix believes it is a useful measure in assessing its dividend-paying capacity, as it isolates the cash impact of certain income and expense items and considers the impact of recurring capital expenditures.

Equinix defines FFO as net income attributable to common stockholders excluding:

gain or loss from the disposition of real estate assetsdepreciation and amortization expense on real estate assetsadjustments for unconsolidated joint ventures’ and non-controlling interests’ share of these items

Equinix defines AFFO as FFO adjusted for:

depreciation and amortization expense on non-real estate assetsaccretion expensestock-based compensation expensestock-based charitable contributionsrestructuring and other exit charges, as described aboveimpairment chargestransaction costsan adjustment to remove the impacts of straight-lining installation revenuean adjustment to remove the impacts of straight-lining rent expensean adjustment to remove the impacts of straight-lining contract costsamortization of deferred financing costs and debt discounts and premiumsgain or loss from the disposition of non-real estate assetsgain or loss on debt extinguishmentan income tax expense adjustment, which represents the non-cash tax impact due to changes in valuation allowances, uncertain tax positions and deferred taxesrecurring capital expenditures, which represent expenditures to extend the useful life of data centers or other assets that are required to support current revenuesnet income or loss from discontinued operations, net of taxadjustments from FFO to AFFO for unconsolidated joint ventures’ and non-controlling interests’ share of these items

Equinix provides normalized and constant currency growth rates for revenues, adjusted EBITDA, AFFO and AFFO per share. These growth rates assume foreign currency rates remain consistent across comparative periods. Revenue growth rates exclude the impact of net power pass-through, acquisitions, divestitures and the Equinix Metal® wind-down. Adjusted EBITDA growth rates exclude the impact of acquisitions, divestitures and integration costs. AFFO growth rates exclude the impact of acquisitions and related financing costs, divestitures, integration costs and balance sheet remeasurements. AFFO per share growth rates exclude the impact of integration costs and balance sheet remeasurements.

Equinix presents cash cost of revenues and cash operating expenses (also known as cash selling, general and administrative expenses or cash SG&A). These measures exclude depreciation, amortization, accretion and stock-based compensation, which are not good indicators of Equinix’s current or future operating performance, as described above.

Equinix also presents free cash flow and adjusted free cash flow. Free cash flow is defined as net cash provided by (used in) operating activities plus net cash provided by (used in) investing activities excluding the net purchases of and distributions from equity investments. Adjusted free cash flow is defined as free cash flow excluding any real estate and business acquisitions, net of cash and restricted cash acquired. These measures are presented in order for lenders, investors and the industry analysts who review and report on Equinix to better evaluate Equinix’s cash spending levels relative to its industry sector and competitors.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the current inflationary environment; foreign currency exchange rate fluctuations; stock price fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of building and operating IBX® and xScale® data centers, including those related to sourcing suitable power and land, and any supply chain constraints or increased costs of supplies; the challenges of developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; risks related to regulatory inquiries or litigation; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

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SOURCE Equinix, Inc.

Announces $100 Million Share Repurchase Program

PLANO, Texas, April 29, 2026 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami” or “the Company”), a leading cloud-based digital banking solutions provider for financial institutions (FIs) in the U.S., today announced results for its first quarter ending March 31, 2026.

First Quarter 2026 Financial Highlights

GAAP total revenue of $126.1, an increase of 28.9% compared to the year-ago quarter;GAAP gross margin of 58.6%, compared to 59.0% in the year-ago quarter;Non-GAAP gross margin of 64.4%, compared to 64.3% in the year-ago quarter;GAAP net loss of $(10.0) million, compared to $(7.8) million in the year-ago quarter; andAdjusted EBITDA of $22.3 million, compared to $12.1 million in the year-ago quarter.

Comments on the News

Alex Shootman, Chief Executive Officer, said, “In the first quarter, we delivered strong financial and operating performance, with revenue growth of 29% and Adjusted EBITDA of over $22 million. We also continued to expand our client portfolio, signing 6 new digital banking logos and 14 new MANTL logos.”

Shootman added, “We continued our momentum with our Digital Sales & Service Platform offering as financial institutions continue to seek modern solutions that integrate onboarding, digital banking and high-ROI marketing and analytics solutions. Half of our new logos in the first quarter are DSSP clients. We believe Alkami provides the most effective digital sales and service experience in the industry, and we are continuing to deliver innovation that will drive digital transformation for years to come.”

Cassandra Hudson, Chief Financial Officer, said, “In the last 12 months, we added 2.5 million registered users to our digital banking platform, ending the quarter with 23.0 million digital banking users. We exited the first quarter with annual recurring revenue of $493.6 million, up 22% compared to the year-ago quarter and revenue per registered user of $21.46, up 9% compared to the year-ago quarter. Our first quarter adjusted EBITDA margin of 17.7% was above expectations, demonstrating the strength and scalability of our financial model.”

Share Repurchase Program

Today Alkami is announcing its Board of Directors has authorized a share repurchase program in which the Company may purchase up to $100 million of its common stock in the open market or in privately negotiated transactions. The Company’s capital allocation strategy focuses on driving growth through acquisitions, deleveraging the balance sheet and now, enhancing shareholder value through opportunistic share repurchases..

2026 Financial Outlook

The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement Regarding Forward-Looking Statements.”

Alkami is providing guidance for its second quarter ending June 30, 2026 of:

GAAP total revenue in the range of $128.0 million to $129.0 million;Adjusted EBITDA in the range of $17.9 million to $18.7 million.

Alkami is providing guidance for its fiscal year ending December 31, 2026 of:

GAAP total revenue in the range of $527.1 million to $530.9 million;Adjusted EBITDA in the range of $94.9 million to $97.9 million.

Conference Call Information
The Company will host a conference call at 5:00 p.m. ET today to discuss its financial results with investors. A live webcast of the event will be available on the Alkami investor relations website at investors.alkami.com. In addition, a live dial-in will be available domestically at 1-800-836-8184 and internationally at 1-646-357-8785, using passcode 11581. The webcast replay will be available on the Alkami investor relations website.

About Alkami
Alkami provides a digital sales and service platform for U.S. banks and credit unions. Our unified Platform integrates onboarding, digital banking, and data and marketing—each solution can stand alone, but together they deliver more—to help institutions onboard, engage, and grow relationships. As the future shifts toward Anticipatory Banking, we help data-informed bankers meet the moment with technology that drives action.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking” statements relating to Alkami Technology, Inc.’s strategy, goals, future focus areas, and expected, possible or assumed future results, including its future cash flows and its financial outlook. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “expects,” “believes,” “plans,” or similar expressions and the negatives of those terms. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. Factors that may materially affect such forward-looking statements include: Our limited operating history and history of operating losses; our ability to manage future growth; our ability to attract new clients and retain and expand existing clients’ use of our solutions; the unpredictable and time-consuming nature of our sales cycles; our ability to maintain, protect and enhance our brand; our ability to accurately predict the long-term rate of client subscription renewals or adoption of our solutions; our reliance on third-party software, content and services; our ability to effectively integrate our solutions with other systems used by our clients; intense competition in our industry; any downturn, consolidation or decrease in technology spend in the financial services industry, including as a result of recent closures of certain financial institutions and liquidity concerns at other financial institutions; our ability and the ability of third parties on which we rely to prevent and identify breaches of security measures (including cybersecurity) and resulting disruptions of our systems or operations and unauthorized access to client customer and other data; our ability to successfully integrate acquired companies or businesses; our ability to comply with regulatory and legal requirements and developments; our ability to attract and retain key employees; the political, economic and competitive conditions in the markets and jurisdictions where we operate; our ability to maintain, develop and protect our intellectual property; our ability to respond to evolving technological requirements to develop or acquire new and enhanced products that achieve market acceptance in a timely manner; our ability to estimate our expenses, future revenues, capital requirements, our needs for additional financing and our ability to obtain additional capital and other factors described in the Company’s filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Explanation of Non-GAAP Financial Measures and Key Business Metrics
The company reports its financial results in accordance with accounting principles generally accepted in the United States of America, or GAAP. However, the company believes that, in order to properly understand its short-term and long-term financial, operational and strategic trends, it may be helpful for investors to exclude certain non-cash or non-recurring items when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in both frequency and impact on continuing operations. The company also uses results of operations excluding such items to evaluate the operating performance of Alkami and compare it against prior periods, make operating decisions, determine executive compensation, and serve as a basis for long-term strategic planning. These non-GAAP financial measures provide the company with additional means to understand and evaluate the operating results and trends in its ongoing business by eliminating certain non-cash expenses and other items that Alkami believes might otherwise make comparisons of its ongoing business with prior periods more difficult, obscure trends in ongoing operations, reduce management’s ability to make useful forecasts, or obscure the ability to evaluate the effectiveness of certain business strategies and management incentive structures. In addition, the company also believes that investors and financial analysts find this information to be helpful in analyzing the company’s financial and operational performance and comparing this performance to the company’s peers and competitors.

The company defines “Non-GAAP Cost of Revenues” as cost of revenues, excluding (1) amortization and (2) stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Non-GAAP Gross Margin” as gross profit, plus (1) amortization and (2) stock-based compensation expense, all divided by revenue. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Non-GAAP Research and Development Expense” as research and development expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ongoing expenditures related to product innovation.

The company defines “Non-GAAP Sales and Marketing Expense” as sales and marketing expense, excluding stock-based compensation expense. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ongoing expenditures related to its sales and marketing strategies.

The company defines “Non-GAAP General and Administrative Expense” as general and administrative expense, excluding (1) stock-based compensation expense (2) acquisition-related expenses (3) loss on impairment of intangible assets and (4) stockholder matters related expenses. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s underlying expense structure to support corporate activities and processes.

The company defines “Non-GAAP Income Before Income Taxes” as loss before income taxes, plus (1) amortization, (2) stock-based compensation expense, (3) acquisition-related expenses, (4) loss on impairment of intangible assets, and (5) stockholder matters related expenses. The company believes that investors and financial analysts find this non-GAAP financial measure to be useful in analyzing the company’s financial and operational performance, comparing this performance to the company’s peers and competitors, and understanding the company’s ability to generate income from ongoing business operations.

The company defines “Adjusted EBITDA” as net loss plus (1) provision for (benefit from) income taxes, (2) interest expense (income), net, (3) depreciation and amortization (4) stock-based compensation expense, (5) acquisition-related expenses, (6) loss on impairment of intangible assets, and (7) stockholder matters related expenses. The company believes adjusted EBITDA provides investors and other users of our financial information consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations.

The company defines “Free Cash Flow” as net cash used in operating activities less (1) purchase of property and equipment and (2) capitalized software development costs. The company believes free cash flow provided investors and other users useful information in evaluating the Company’s liquidity and it provides an indication of the long-term cash generating ability of the business.

In addition, the Company also uses the following important operating metrics to evaluate its business:

The company defines “Annual Recurring Revenue (ARR)” by aggregating annualized recurring revenue related to SaaS subscription services recognized in the last month of the reporting period as well as the next 12 months of expected implementation services revenues in the last month of the reporting period. We believe ARR provides important information about our future revenue potential, our ability to acquire new clients, and our ability to maintain and expand our relationship with existing clients.

The company defines “Registered Users” as an individual or business related to an account holder of an FI client on our digital banking platform and has access as of the last day of the reporting period presented. We exclude individuals or businesses that solely use the products and services of our acquisitions. We price our digital banking platform based on the number of registered users, so as the number of registered users of our digital banking platform increases, our ARR grows. We believe growth in the number of registered users provides important information about our ability to expand market adoption of our digital banking platform and its associated software products, and therefore to grow revenues over time.

The company defines “Revenue per Registered User (RPU)” by dividing ARR for the reporting period by the number of registered users as of the last day of the reporting period. We believe RPU provides important information about our ability to grow the number of software products adopted by new clients over time, as well as our ability to expand the number of software products that our existing clients add to their contracts with us over time.

The company does not provide a reconciliation of our adjusted EBITDA outlook to GAAP net loss because certain significant information required for such reconciliation is not available without unreasonable efforts, including provision for (benefit from) income taxes, stock-based compensation expense, acquisition-related expenses, and stockholder matters related expenses, all of which may be significant.

Investor Relations Contact
Steve Calk
ir@alkami.com 

Media Relations Contacts
Marla Pieton
marla.pieton@alkami.com

Valerie Kerner
alkami@fullyvested.com

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SOURCE Alkami Technology, Inc.